MOUNT AIRY, N.C., Nov. 15, 2016 /PRNewswire/ -- Insteel
Industries, Inc. (NasdaqGS: IIIN) today announced that its board of
directors declared a regular quarterly cash dividend of
$0.03 per share and a special cash
dividend of $1.25 per share on the
Company's common stock payable on January 6,
2017 to shareholders of record as of December 14, 2016
"Our strong results for fiscal 2016 provides us with the
opportunity to again return capital to our shareholders with the
payment of a special dividend while funding an ambitious capital
investment program and maintaining ample financial flexibility,"
commented H.O. Woltz, Insteel's
president and CEO.
About Insteel
Insteel is the nation's largest manufacturer of steel wire
reinforcing products for concrete construction applications.
Insteel manufactures and markets prestressed concrete strand and
welded wire reinforcement, including engineered structural mesh,
concrete pipe reinforcement and standard welded wire reinforcement.
Insteel's products are sold primarily to manufacturers of concrete
products that are used in nonresidential construction.
Headquartered in Mount Airy, North
Carolina, Insteel operates ten manufacturing facilities
located in the United States.
Forward-Looking Statements and Risk Factors
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements that are not descriptions of historical facts are
forward-looking statements that are based on our current
expectations and may include commentary on our plans, financial
position and other business developments. Forward-looking
statements are inherently subject to risks and uncertainties, some
of which cannot be predicted or quantified. Future results could
differ materially from those described, and we do not undertake and
specifically decline any obligation to correct or update any
forward-looking statements. For further information regarding risk
factors that could affect our operations and future results, refer
to our reports filed with the U.S. Securities and Exchange
Commission, including our annual report on Form 10-K for the year
ended October 1, 2016.
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SOURCE Insteel Industries, Inc.